Essay Economics
Gold
In my essay I will be talking about gold because I am very interested in the gold market it is a element that a lot people where as a jewelry, and so on gold is a very famous element.

What is gold"Gold! Gold! Gold! Gold!" wrote the poet Thomas Hood. "Bright and yellow, hard and cold." When the word "gold" comes to your mind the first thing you think about is jewelry, money, treasure and luxury. Gold is soft yellow metal. Its chemical symbol is Au, from the Latin word, Aurum. Gold is one of the heaviest chemical elements. It is 19 times heavier than water. Unlike most metals, gold does not tarnish in the air. It remains bright and shiny indefinitely. People first valued gold for this special quality.

Gold marketThe gold market is a Monopolistic competition. The main feature of monopolistic competition is product differentiation which is quite prevalent in the gold market. The gold sold by different shops is different and they charge different prices for it for the same weight. Selling costs also become prevalent. We see many advertisements and attractive posters for different shops selling gold. The costs incurred for these ads are called selling costs. These are vital to the concerned shops as they attract more customers even though actually they haven't changed the price of gold as such. Also there are quite a few shops selling gold so there is a large number of buyers and sellers. All these factors combined make me confidently say that the gold market is a monopolistic competition.

Gold price history

Gold is getting more expensive now a days because the our money is getting less worth. And gold is something that can’t lose its worth and money is just a piece of paper. If the interest rates are below the 2% the price of gold will increase very strong, and when the interest rate becomes 3% the price of gold will go...

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Hypothesis:
It was hypothesized that the electricity sector market in the west bank is an oligopoly. An oligopoly is a market form in which an industry is dominated by a small number of firms. The proposition was based primarily in the fact that there are a very small number of electricity distribution firms in the west bank with high barriers to entry as there is a high cost of production. To prove this hypothesis, I must attempt to correlate the supermarkets with characteristics of an oligopoly. Those are:
Number of firms: few.
Products are slightly differentiated (as in groceries).
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Managerial Economics Final Project
Fajwa’s Apparel Outlets
Iqra Fayyaz (10223004)
Malik Usman Khan (10223001)
Sufyan Adil (10223024)
Jabbar Ahmed(10223006)
Mohd. Salman (08110104)
Instructor: Dr. Tasneem Akhtar
GIFT Business School
GIFT University
ACKNOWLEDGMENT
In the name of ALLHA ALMIGHITY the lord of the world who has bestowed us with abilities and blessed with knowledge so that we can make best of opportunities provide to us. First of all we are indebted toward ALLHA ALMIGHTY who has created us and made capable enough to with stand in the competitive world.
If words could pay gratitude then we would like to pay our esteem gratitude to our most respected Dr. Tasneem Akhtar for assigning us this project of Managerial Economics. Throughout the course period he has been extremely cooperated with us and guided us at every single step he has been very encouraging and kind to us.
At the end we just want to thanks to our families, because they tolerated us when we don’t able to give time to them and become one of the main reasons of cancelation of many outdoor trips.
TABLE OF CONTENTS
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Page #
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3
Business opportunity
4
Business objectives
6
Importance of study
8
Key customer
9
Market size
10
Opportunity size
11
Product line
13
Demand analysis
16
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Market...

...﻿ Timings :1 hour TEST Max.Marks 58
Choose the most appropriate answer from the given options in respect of the following :
1)”Economics is the study of mankind in the ordinary business of life” was given by :
a) Adam Smith
b)Lord Robbins
c)Alfred Marshall
d)Samuelson
2)A capitalist economy uses as the principal means of allocating resources
a)Demand
b)Supply
c)Efficiency
d)Price
3)The commodity whose demand is associated with the name of Sir Robert Giffen:
a)Necessary goods
b)Luxury goods
c)Inferior goods
d)Ordinary Goods
4)In case of straight line demand curve meeting two axis, the price elasticity of demand at the point where the curve meets Y-axis would be :
a)Zero
b)Greater than one
c)Less than one
d)Infinity
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a)A.C. Pigou
b)Marshall
c)Adam Smith
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7)If the supply curve is Perfectly Inelastic, the supply curve is :
a)Vertical
b)Horizontal
c)Upward Sloping
d)Downward sloping
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a)0.75
b)0.67
c)00.67
d)00.77
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a)Product lines
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What does GDP Stand for? What does it capture? What are its strengths and weaknesses as an indicator of economic activity?
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Juan Carlos Sanjuan Zamudio
201495595
16/11/2014
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...|Business Economics and the Distribution of Income |
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• The range of market structures
• How costs and revenues vary in different market structures
• Changes in costs and revenues in different market structures
The range of market structures
|Type |Perfect competition |Imperfect competition |Oligopoly |Monopoly |
|Example |Financial markets and |Small service sectors, |Supermarket chains, banking|Microsoft? |
| |commodities |bars, restaurants | |The Beckhams? |
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...Elasticity is a measure of the sensitivity of one thing, to another
(Bannock, 2011, p.116). It could be divided into price, income and
cross-price elasticity of demand and supply and they are known as
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How Market Structures, Market Forces and Business & Cultural Environment affect a Business
By Stuart McDougall
Contents
1.0 Summary
2.0 Introduction
3.0 Market Structures
3.1 Introduction
3.2 Perfect Competition
3.3 Monopoly
3.4 Oligopoly
3.5 Monopolistic Competition
4.0 Market Forces & Organisational Responses
4.1 Elasticity of Demand
5.0 Business and Cultural Environment
5.1 Growth
5.2 Competitive Advantage
5.3 Factors which affect growth
5.31 Technology
5.32 Cultural Environment
6.0 Conclusion
7.0 Works cited
1.0 Summary
Within this report, are the findings, in detail of Market structures. Perfect completion, monopoly, oligopoly and monopolistic competition. The answer to Mr Mark Fish is prganisations are able to charge what they please because they are in a monopoly. Which exits as their market as there is no competition. I will illustrate market forces and how organisations respond by using graphical charts. The report will also illustrate how the business can achieve growth by raising internal capitial or mergers and takeovers, I will also discuss how they achieve a competitive advantage by either selling the product/service for very cheap or create a differentiated product which is ‘better’ than their rivals. The report concludes by discussing the relevances of the factors discussed.
2.0...

...1) Explain the terms ‘Monopoly’ and ‘Monopolistic Competition’ (4 marks)
Monopoly
A monopoly is a market structure in which a single company or individual owns all or nearly all of the market for a given type of product or service with no or close substitute. This would happen in the case that there is a barrier to entry into the industry that allows the single company to operate without competition (for example, vast economies of scale, barriers to entry, or governmental regulation). Such a firm is referred to as a monopolist.
Monopolistic Competition
Monopolistic competition is a type of imperfect competition such that competing producers sell products that are differentiated from one another as good but not perfect substitutes (such as from branding, quality, or location). In monopolistic competition, a firm takes the prices charged by its rivals as given and ignores the impact of its own prices on the prices of other firms, this means that they can each set their own prices and quantity without affecting the market place as a whole.
2) State two features of (a) Monopoly (b) Monopolistic Competition
|Features of a Monopoly |Features of Monopolistic Competition |
|There are no close substitutes for the product. |There is proud differentiation in products. |
|A single...